Core Viewpoint - The smartphone panel market is experiencing overall quarterly growth with increasing differentiation in technology routes as it enters Q4, driven by high demand for low-end panels and flagship models, while LTPS LCD and ROLED face demand pressure [1] Group 1: a-Si LCD - Demand for a-Si LCD panels is supported by its cost-effectiveness, making it a core choice for entry-level models and stable orders from the white-label market [2] - A slight price increase is expected in the Q4 a-Si LCD panel market in South China due to this demand resilience [2] Group 2: LTPS LCD - The LTPS LCD panel market is facing low supply and demand expectations, with mid-range models preferring a-Si LCD and high-end models shifting to OLED, leading to a shrinking application scenario [3] - Prices for LTPS LCD panels are expected to remain stable in Q4 due to the balance of supply and demand [3] Group 3: ROLED - ROLED panels are under pressure as brand models shift towards FOLED, resulting in a shrinking demand base [4] - Suppliers are adopting discount strategies to stimulate demand, which aligns with brands' cost control needs amid rising component prices [4] - However, this strategy may not reverse the overall decline, with price adjustments aimed at maintaining order volumes for domestic brands in the coming year [4] Group 4: FOLED - Q4 is traditionally a peak demand season for FOLED panels, particularly following the iPhone 17 series launch, which has increased Apple's stocking needs [5] - Domestic panel manufacturers are facing intense competition in new project tenders, leading to a contradiction of rising demand but increasing price competition [5] - FOLED panel prices are expected to remain under pressure in the short term despite potential cost reductions through technological iterations by leading manufacturers [5] Group 5: Tablet Panels - The fourth quarter typically sees high demand for tablet panels, but this year shows a trend of high demand in the first three quarters followed by a decline in Q4 due to demand being pulled forward [6] - Overall demand is lower than the same period last year, influenced by significant price increases in core components [6] Group 6: Supply Side Analysis - For a-Si LCD, the supply-demand environment is becoming looser, leading to a slight decline in panel prices due to reduced brand demand [7] - LTPS production lines are maintaining high operational levels supported by demand from the automotive panel sector, with prices remaining stable overall [7]